Cosmopolitan The Daily Business Awards 2025
In this exclusive Winner Spotlight, we celebrate Sukoon Takaful PJSC, a distinguished recipient of the 2025 Cosmopolitan The Daily Business Award. This feature explores how CEO Ahmed M.A. Abushanab and his team are revolutionizing Islamic finance through Shariah-compliant innovation, digital transformation, and unwavering commitment to ethical business practices.
Award Recognition: Excellence in Islamic Finance
Sukoon Takaful PJSC has earned its place among 2025’s most exceptional businesses, recognized for outstanding achievement in transforming the insurance landscape through ethical, Shariah-compliant financial solutions. Based in Dubai with a paid-up capital of AED 154,000,000 and regulated by the Central Bank of the UAE, this takaful provider exemplifies the values that define business excellence in today’s market.
Remarkable Growth Trajectory
The numbers speak volumes about Sukoon Takaful’s market impact. In the first half of 2025 alone, the company’s gross written contributions nearly doubled year-on-year, while profitability strengthened significantly—demonstrating not just growth, but sustainable, strategic expansion.
This explosive performance reflects the accelerating demand for Islamic finance across the UAE and GCC region. Customers increasingly seek ethical, Shariah-compliant financial protection, and Sukoon Takaful has positioned itself as the trusted partner to meet this need.
The strategic acquisition by Sukoon Insurance provided critical distribution scale and operational infrastructure, enabling the company to expand effectively into retail, SME, and corporate segments. Strategic alliances with leading Islamic banks in the UAE have further broadened access to banking customers and simplified acquisition journeys.
“We’re driven by a broader ecosystem of brokers, intermediaries, direct corporate channels, and digital platforms,” explains CEO Ahmed M.A. Abushanab. “Our ambition is to be the trusted takaful partner that delivers ethical protection and long-term peace of mind.”
Innovation Anchored in Shariah Principles
What sets Sukoon Takaful apart is its commitment to authentic, practical innovation rooted in Islamic principles. The company offers a comprehensive portfolio spanning motor, medical, property, engineering, marine, general accident, and family takaful—all designed around the core principles of mutual cooperation (ta’awun) and tabarru’.
At the heart of their model is the surplus-sharing mechanism. When funds perform well, participants benefit directly—reinforcing the mutual structure that distinguishes takaful from conventional insurance. This isn’t just compliance; it’s a fundamental alignment of interests between the company and its customers.
Every product enhancement undergoes rigorous review by Sukoon Takaful’s Internal Shariah Supervision Committee, ensuring strict adherence to Islamic finance principles. The company is also developing sector-specific propositions and bespoke group schemes for professionals and corporates to address coverage gaps in the market.
A standout example is their partnership program for legal professionals—a bespoke proposition bundling liability and personal protection in a Shariah-compliant structure, supported by awareness sessions that drive meaningful uptake. These innovations are backed by streamlined issuance and digital servicing, making takaful simpler, fairer, and more accessible.
Digital-First Strategy Driving Customer Experience
Digital transformation isn’t just a buzzword at Sukoon Takaful—it’s a strategic priority and the key enabler of superior customer experience. The company conducted comprehensive market analysis to identify digital transformation trends shaping industry leaders’ strategies, ensuring alignment between innovation, operational efficiency, and sustainability.
Their technology investments are strategically focused on reducing fraud, minimizing waste, and decreasing environmental impact while driving sustainable growth. Digital communications emphasize education—explaining takaful principles, surplus distribution, and Shariah governance so customers can make truly informed choices.
“Every digital capability is embedded in our governance framework,” emphasizes Abushanab. “Shariah oversight and secure data practices ensure that convenience never compromises compliance or privacy. By combining speed, transparency, and education, we aim to build long-term trust and higher retention.”
This commitment to ethical digital transformation demonstrates how technology and tradition can work in harmony to create exceptional value.
Navigating Complex Regulatory Landscape
The UAE regulatory environment has become progressively rigorous around governance, solvency, and customer protection—and Sukoon Takaful has risen to meet these challenges head-on. The company maintains robust risk management frameworks and transparent reporting practices, with a strong solvency position and capital governance that underpin their ability to meet obligations and support participants.
Competition is intensifying as conventional insurers introduce Islamic-aligned propositions, and regulators continually update requirements around digital governance, reporting, and consumer protection. Balancing strict Shariah compliance with evolving regulatory and market expectations requires active engagement with regulators, a strong Shariah Committee, and ongoing investment in compliance capabilities.
Sukoon Takaful’s competitive differentiation lies in its authentic mutual structure, surplus-sharing ethos, and demonstrable Shariah governance—elements that align long-term interests between participants and the operator in ways that surface-level Islamic products cannot replicate.
Strategic Vision: 2026-2027 and Beyond
Looking ahead, Sukoon Takaful envisions a future where insurance transcends financial transactions to become a transformative experience. With their solid foundation and strategic alignment with Sukoon Insurance, the company is positioned to scale responsibly and lead the next generation of ethical, Shariah-compliant, customer-centric, and digital-first insurance across the region.
Strategic priorities include deepening digital distribution channels, strengthening broker engagement, and exploring selective GCC market entry where demand for takaful is growing—particularly among younger, values-driven customers who prioritize ethical business practices.
“With our solid foundation and strategic alignment, we are ready to scale responsibly and lead the next generation of ethical insurance in the region,” concludes CEO Ahmed M.A. Abushanab.
About This Winner
Sukoon Takaful PJSC is a Dubai-based Islamic insurance provider regulated by the Central Bank of the UAE, combining traditional Islamic finance principles with modern innovation to serve customers across the UAE and GCC region.
Cosmopolitan The Daily Business Awards recognize exceptional companies demonstrating outstanding achievement, innovation, and leadership across global markets. Each Winner Spotlight celebrates the vision, strategy, and execution that define business excellence.